HudBay Minerals extends takeover offer for Augusta Resource to May 27

|By:, SA News Editor

HudBay Minerals (HBM) says it is extending its offer to acquire all outstanding shares of Augusta Resource (AZC) to May 27; the hostile offer had been set to expire today.

HBM, which owns a ~16% stake in AZC, has offered 0.315 of a HBM share for each AZC share, currently valuing the company at ~$458M, or $3.15/share.